Monday, August 21, 2006

My thoughts on the markets

Although the markets have gone up a lot in the past week, I don't trust the strength we're seeing. There are a lot of signs that points towards a slowing economy, which means the markets will trade sideways at best. From what I can remember, September is a bad month, and I wouldn't expect anything different this year.

Regarding the commodity markets, I still think that we are in a long term bull market which will not end until 2015-2020. Fundamentally, nothing has changed; demand is still rising faster than the supply. This will cause the markets to remain tight and to build up "potential" energy for a more powerful "breakout" to the upside. Therefore, I would be very comfortable owning commodity companies for the long term, especially Cameco (CCO), which remains its leader.

By the way, feel free to check out the Elliott Wave webpage, by clicking on the links provided on this site. The people who run Elliott Wave provide some very interesting commentaries about the markets using a very unique methodology. In fact, the Elliott Wave theory was one of the first things I learned about the markets, and it is the reason why I became so intersted in it.

Basically, Elliott Wave states that the markets are patterned and predictable, following the waves of human psychology. Using this theory, it increases the probability of forecasting the markets correctly. I find the Elliott Wave theory extremely helpful, and I encourage you to check it out.


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Anonymous Anonymous said...


2:28 AM  

Not a bad view.

10:23 AM  

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